Levy of GST - the component of interest and delayed payment ...

Case Laws GST

January 9, 2019

Levy of GST - the component of interest and delayed payment charges are obviously having a direct relation with the value of supply to which such interest/delayed charges relate. These are in fact components of the value of supply and do not have any independent status - liable to GST where main service is liable to GST.

View Source

← Previous Next →

Levy of GST - the component of interest and delayed payment ...

Case Laws GST

January 9, 2019

You may also like:

Interest paid on late payment of TDS - allowable deduction u/s 37(1) or not? - Interest on delayed payment of TDS cannot be allowed as deduction. - The interest...

Interest on delayed payment of GST - CBIC has clarified that the Notification No. 63/2020-Central Tax dated 25th August 2020 relating to interest on delayed payment of...

Entitled to registration u/s 12AA and approval under Section 80G - Allegation of charging higher rate of interest from the self help groups in the name of charitable...

TP Adjustment - notional interest on outstanding receivables due from Associated Enterprises (AES) - assessee not charging any interest from its AEs - Treatment of...

Levy of GST - GST on interest - interest amount receivable on the balance land cost - In the instant case the applicant, APIIC had given a facility to the beneficiaries,...

Interest expenditure - assessee had availed loan at the interest rate of 12% p.a., whereas, it has advanced loan to a sister concern by charging 9% interest p.a - The...

Transfer pricing adjustment - Interest on delayed debtors/outstanding receivables from the AE - the assessee is fallowing a consistency approach of equality by not...

Levy of penal interest - delayed pament of tax - the appellant disputes the allegation of the Department that they are a defaulter, i.e. there has been a turnover...

Interest u/s 234B and 234C charged for default in payment of advance tax - assessee has submitted certificate from the Punjab National Bank that the cheques issued by...

Deduction u/s 37(1) - Whether, payment of interest on delayed payment of instalments is penal in nature - Held No - It was simplicitor liability of interest on delayed...

Supply or not - interest/penalty collected for delay in payment of monthly subscription by the members - The additional amount being charged in delay of payment by...

Levy of GST - Penal Interest for delayed payment of EMI - The penalty recovered by the appellant does not get covered by the term ‘penal interest’ as used by the...

Interest u/s 244A - The rectification order dated 31.07.2020 having failed to calculate interest u/s 244A (which is automatic unless delay is attributable to assessee’s...

Levy of GST - whether the stand to charge the GST@18% only on establishment charges (i.e. after abatement of wages etc. paid to guards) and not on whole amount - the...

Interest on Delayed Refund of Input Tax Credit - Proviso to Section 56 specified increased interest rates for refunds arising from orders of adjudicating or appellate...

Quick Updates: